Market Overview: Hooked Protocol/Tether (HOOKUSDT) 24-Hour Analysis

• Price declined from 0.1044 to 0.098 at 16:00 ET, forming bearish consolidation.
• Volatility increased with a high of 0.1044 and low of 0.0973, indicating range contraction.
• RSI dropped into oversold territory, suggesting potential reversal or further weakness.
• Volume surged during the drop, confirming bearish momentum.
• Bollinger Bands show tight contraction, indicating possible breakout.

Hooked Protocol/Tether (HOOKUSDT) opened at 0.1027 on 2025-10-06 at 12:00 ET and closed at 0.098 at 12:00 ET the following day. The pair reached a high of 0.1044 and a low of 0.0973. Total volume across 24 hours was 108,012,449.5, with notional turnover reaching approximately 10,641,244.7 (0.1044 * volume). The price action reflects bearish momentum, supported by volume and a tight consolidation pattern.

Structure & Formations

Price action over the 24-hour period showed a bearish breakdown from a 0.1044 high to a 0.0973 low, forming a wide consolidation range. Notable formations include a bearish engulfing pattern around 18:30–19:00 ET and a long lower shadow at the close of the session, suggesting potential support at 0.098. A doji formed near 0.0994, indicating indecision and possible exhaustion in the bearish move.

Moving Averages

On the 15-minute chart, the 20-period MA was above the 50-period MA most of the day, but both moved lower as the trend continued. The 50-period MA crossed below the 100-period MA on the daily chart, signaling a potential shift to bearish momentum. The 200-period MA acted as a key resistance during the early part of the session but failed to hold as the price pushed lower.

MACD & RSI

MACD showed a bearish crossover early in the session and remained in negative territory throughout the 24 hours, confirming the downward trend. The RSI indicator dipped into oversold territory, reaching below 30 near the end of the session, indicating potential for a short-term bounce. However, the divergence between RSI and price action suggests underlying weakness, and a strong rebound may be limited without a clear volume surge.

Bollinger Bands

Bollinger Bands contracted significantly in the middle of the session, from 08:00 to 10:00 ET, indicating a period of low volatility and potential consolidation. The price broke down below the lower band at 0.0973, signaling a potential continuation of the bearish trend. The contraction and subsequent expansion of the bands suggest a possible continuation of the current move toward key support levels.

Volume & Turnover

Volume increased dramatically during the bearish breakdown, especially between 15:15 and 16:00 ET, where the price dropped from 0.0991 to 0.098. This volume surge supports the bearish move. However, turnover during the final hour was relatively modest, suggesting some uncertainty in the market. Divergence between volume and price action during the last few hours indicates potential for a short-term pullback.

Fibonacci Retracements

Fibonacci levels applied to the recent swing high (0.1044) and low (0.0973) show the 38.2% level at 0.1015 and the 61.8% at 0.0996. Price tested the 61.8% level twice during the session but failed to hold, indicating a likely continuation of the bearish trend. The 38.2% level may act as a shallow retracement target if a pullback occurs.

Backtest Hypothesis

A potential backtesting strategy could focus on shorting on the breakdown below the 0.098 level with a stop above the 0.1015 Fibonacci retracement. Traders may look to target the next support at 0.096–0.095, with a stop-loss placed above the 0.1015 level to manage risk. The MACD and RSI indicators can act as confirmation tools, with MACD staying negative and RSI bouncing within oversold territory suggesting a controlled short-term move. This strategy aligns with the observed bearish momentum and consolidation patterns.